Industrial Info Forecasts $245 Billion North American Project Spending for 2008

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Industrial Info Resources (Sugar Land, Texas) is forecasting a 5.55% increase in total investment value (TIV) for North American industrial projects in 2008 when compared with 2007, as detailed in the recently released 2008 Global Industrial Outlook.

Click on the image at right to view a chart showing the breakdown of 2008 industrial project spending by region.

The forecast is based on extensive research identifying thousands of projects scheduled to begin construction in 2008. These projects are in various stages of development that include pre-planning, design, permitting, funding submittal, capital approval and construction. As the year progresses, there is a natural adjustment or fallout that occurs as projects are added, delayed, postponed or canceled. To forecast this adjustment, Industrial Info utilizes a Confidence Factor based on historical trends to determine the fallout rate. This forward-looking approach provides insight into future spending activity, trends and performance projections.

For North America, more than 5,300 major projects with a TIV of $401 billion have been identified to begin construction in 2008. Industrial Info is forecasting that about $245 billion of that total will actually take place by the end of 2008 after adjustments are made from project fallouts because of cancellations and schedule changes. Using a five-year Confidence Factor based on industry trends, the forecasted 2008 value represents a $13.64 billion increase or 5.55% growth when compared with 2007's actual spending.

The Confidence Factor is the percent of change in TIV from the initial forecast to the actual number. In some cases, the percent could be positive growth (100%+), and in others it could be negative, where the number of new projects will not outweigh the reduction from project cancellations and delays.

For more details, see Industrial Info's 2008 Global Industrial Outlook.

Industrial Info Resources (IIR) is the leading marketing information services company for the industrial process, heavy manufacturing and energy-related markets throughout the world. For more than 24 years, IIR has provided accurate and timely intelligence through products such as plant and project information databases, focused market databases, industry forecasting, key industry contacts, industry and territorial map products, direct marketing services and applications, and daily industry news.